Labour Supply Challenges the New Reality for Atlantic Employers
About 50% of Atlantic businesses, according to recent surveys, report challenges with recruitment and retention of staff. This should not be a surprise, given the region’s demographic trends and declining unemployment rates with this new reality expected to persist, requiring employers to learn how to adjust, according to APEC’s January 2020 Report Card.
“We should not be surprised that employers are finding it harder to fill their labour needs,” says APEC President & CEO, David Chaundy. “In 1990, there were 20 new workers entering the region’s labour market for every ten retiring; now there are only seven.”
APEC’s two-page report emphasizes that there is no single solution to the region’s labour challenge, but employers are already responding in a number of ways, including prioritizing the development of a people strategy, with competitive wages and benefits and flexible employment practices.